Companies Seeking M&A Safe Harbor Should Follow DOJ's Signals
Bloomberg Law
In this article, authors Daniel Patrick Wendt and FeiFei Ren discussed the implications of the Department of Justice's (DOJ) declination to prosecute Lifecore Biomedical, Inc. (Lifecore) considering the DOJ's new safe harbor policy for self-disclosure of misconduct in mergers and acquisitions. "Although Lifecore's declination resulted from a disclosure and negotiations that predated the safe harbor policy, the declination still provides helpful guidance on DOJ's view of timely self-disclosures and remediation in the M&A context," the authors write, adding, "[u]ntil the DOJ issues more declinations under the new safe harbor policy, the Lifecore declination is the best available resource for understanding DOJ expectations for M&A due diligence and any related voluntary self-disclosures."